Glencore Billionaire Alex Beard Faces Corruption Charges in UK Court

Alex Beard, the billionaire former head of oil at Glencore, appeared in a London court for the first time on Tuesday, facing corruption charges alongside several other former employees of the commodities giant. Beard, who was a top executive at Glencore until his departure in 2019, is accused of conspiring to make corrupt payments to officials and employees at state-owned oil companies in Nigeria and Cameroon more than a decade ago.
The Serious Fraud Office (SFO) has charged Beard with conspiring to make corrupt payments, marking him as one of the highest-ranking oil traders ever charged with a crime. His lawyer indicated that Beard intends to plead not guilty.
Also appearing in court was David Perez, another former Glencore employee, who faces corruption charges. Andy Gibson, previously Glencore’s head of oil operations and Beard’s second-in-command, is accused of four counts of conspiracy related to corrupt payments in Nigeria, Cameroon, and Ivory Coast, as well as conspiring to falsify invoices.
The SFO’s lawyer revealed that some charges involve Glencore’s dealings with a Nigerian agent and their company, Amazoil Ltd., alleging that Glencore staff provided a “sham cover” for financial transactions and cash withdrawals from its London office.
Former employees Paul Hopkirk, Ramon Labiaga, and Martin Wakefield were also in court, facing various charges of making corrupt payments across Cameroon, Nigeria, and Ivory Coast. All six men have been granted unconditional bail, and the case has been referred to Southwark Crown Court. The next hearing is scheduled for October 8. Lawyers for Gibson and Hopkirk have indicated that they will plead not guilty, while no plea has yet been entered by the other defendants.